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Social Security
U.S. OASDI social insurance system funded by FICA payroll taxes and originally created by the Social Security Act of 1935
3,984 Questions
Are the last 4 digits of your social security number enough to obtain a credit card?
No, because many people have the same last 4 digits of their Social Security Number, so the last 4 digits don't identify one particular person. The first 3 digits of your Social Security Number identify the region, state and city of where you applied for and received your Social Security card, and therefore (in the USA) all 9 digits would be necessary to identify any one person for a credit application.
Why are illegal aliens getting social security?
Undocumented or illegal aliens are unable to collect social security income even though they may have paid Social Security out of their pay checks. Also, undocumented aliens are unable to receive social security cards.
Did Franklin D. Roosevelt have anything to do with Social Security?
Technically, no -- at least not alone. The Social Security Act was a bill that by constitutional law must first be passed by both houses of congress. Roosevelt and his administration strongly pushed for the bill. To become law, it must be signed by the president after congressional passage -- which he did in 1935.
Can you draw a retirement and disability at the same time?
Depending on your disability insurance policy, you can get disability benefits to age 65, 67, 70 or Lifetime. Some policies have limited benefits for 2, 5 or 10 years.
Check your schedule of benefits in your disability insurance policy, or contact an experienced agent who can find your best options available.
What were the original intentions of social security?
The purpose of Social Security is to provide basic benefits for most workers. It is supposed to bridge the gap complete poverty and lifes bare necessities. I wanna need support from my parents benefits
Why do credit card companies require social security numbers?
Merchant Account being offered are based on your credit score and a risk the acquiring bank takes on you (the merchant). Hence, your Social Security number is required for purposes of obtaining your credit report, and also reporting back on the report.
What disabilities qualify for permanent Social Security?
There is no "list" of disabling conditions that qualify a person for Social Security benefits. And disabling conditions can vary from person to person, although it is true that mental disability is as legitimate as physical disability.
The key to eligibility is determining whether an applicant has "qualifying earnings," paycheck withholding that has been paid into the Social Security fund.
Where can I find more information on social security survivor benefits online?
The Social Security Department of your home state should be your first port of call, unless you are a federal employee or are for any other reason, such as prior military service, covered by a federal scheme.
According to the Social Security Administration, each state makes its own rules with regard to paying unemployment compensation to laid-off Social Security recipients. In most cases, the answer is yes, you are eligible to receive unemployment benefits while drawing Social Security, but your benefits may be reduced or offset by a portion of your Social Security check.
Receipt of any type of Social Security benefit must be reported to your state's Department of Labor Unemployment Compensation Service at the time you apply for unemployment compensation.
Contact your local unemployment office for more specific information.
Can you collect unemployment benefits if you collect Social Security?
Yes, if you meet eligibility requirements for both programs.
New York repealed the Social Security offset regulations that reduced unemployment compensation for people who were claiming both benefits. Both Social Security and the State of New York allow workers to collect unemployment and Social Security at the same time without applying a penalty to either check.
What benefits did the social security act provide to ensure peoples economic well-being?
Among other things, the Social Security Act provided pensions for the elderly and aid for poor mothers.
How much can you earn at 65 and social security?
In the United Kingdom when you reach 60 for a woman and 65 for a man, you can no longer claim social security - at this age you move on to the state pension which is paid to you no matter how much you earn (if you still want to work).
Can 2 social security numbers be linked to 1 person?
Nope, you can only have a single social security number once you lose this one the old one becomes discarded and SHOULD not be linked to you anymore, or anyone for that matter.
Can you check your Social Security Quarters online?
YES YOU CAN find all kinds of information by going to the SSA.gov website and look at the home page first to see if you can find a link to the information that you want.
After that you can use the search box
On the left side of the page under what you do on line choose Your Social Security Earnings Statement
ssa.gov/
Can you contribute to your IRA if you are drawing social security?
You can contribute to an IRA if you are not yet 70 1/2 and have some source of W-2 / 1099 self employment income. Social security payments are NOT considered income that can be used to contribute to an IRA.
Can a social security number start with a 0?
No. The SSA does not issue social security numbers that begin with 9. Taxpayer identification numbers are not social security numbers, but you can use them to get a drivers' license, open a bank account, etc.
How are background investigations conducted?
Background Investigations are conducted by companies to know a person better. If the person or subject is a job applicant, the company wants to confirm if the information that was provided to them were correct or not. Essentially, a BI will involve verifying the identity and character, history and location of the subject. BIs may be covert or not.
AnswerBackground Investigations are conducted by companies to know a person better. If the person or subject is a job applicant, the company wants to confirm if the information that was provided to them were correct or not. Essentially, a BI will involve verifying the identity and character, history and location of the subject. BIs may be covert or not.Can you receive disability benefits if you are 62?
No, Social Security benefits continue unless you reenter the workforce and engage in Substantial Gainful Activity (SGA), which translates to earning more than an average of $1,000 per month for most disabilities or $1,640 per month for blindness.
If you remain unemployed or employed below the level of SGA, disability benefits automatically convert to retirement benefits when you reach full retirement age (for people born before 1943, age 65; for people born between 1943 and 1954, age 66). Your benefit amount will usually remain the same, except for standard cost of living adjustments (COLA), but there will no longer be a limit on the amount of income you can earn.
What is the average monthly Social Security benefit check?
The average for October, 2012 was $1,111.09.
Payments are based on the disabled individual's work history (in essence, how much they've paid into the social security system). The disability benefit is based on the benefit at full retirement age regardless of the age of the disabled person. While a 35-year-old person declared disabled will receive Social Security payments as if they had reached full retirement age (66), they have not paid into the system as long, so the actual payment will be lower than if they had worked their entire life with periodic increase in salary.
The younger the person is, the less they have paid into the system, thus, the less they receive in disability payments.
Can your divorced spouse draw off your social security?
If you were married at least 10 years and the spouse has not remarried, then he/she would receive the standard 50% share from your social security pension. It does not lower your payments however.
Parenthetically, you can remarry and get divorced numerous times, and the spouse will each get 50% share (assuming that they were each married for minimum 10 years)
Did Kennedy borrow money from social security?
Roosevelt used SS funds to build the Atomic Bomb, Truman used SS Funds, Eisenhower used SS to build the Interstate and Kennedy and every President since has used SS Funds. The so called Social Security Trust Fund exists in name only, and they are comingled with the general fund.
The above is an over-simplification of the SS Fund. Money collected for SS goes to the SS Administration, which uses the proceeds to pay out current claims, then looks to put the surplus funds into some place to save it for future use. The safest place to invest such money turns out to be U.S. Treasury bonds - thus, the SS Administration goes to the bond market, and buys US Treasury bond. These bonds are a U.S. Government "I.O.U." to the holder, to pay them back their principle, plus X amount of interest, 30 years (usually) in the future.
Thus, the funds' AREN'T co-mingled, or "raided", or otherwise. Rather, the SS Administration is the largest creditor of the U.S. government; the impact of this is that Congress has become lazy, being seduced by the easy availability of credit (as they can count on the SS Administration to buy any U.S. Treasury bond that Congress has them float to pay for projects). The concern is that the normal U.S. budget (which does NOT include the SS fund) has failed to account for the fact that the SS Administration is lowering its purchase of bonds (as the yearly expenditures of the SS go up while SS revenue goes down, due to demographic changes), and that the SS Administration will shortly begin to actually cash in bonds (i.e. expecting money back). The normal U.S. budget hasn't taken into consideration that the SS Administration won't be a huge creditor anymore, and, in fact, will begin to "pull out" money from the U.S. government, rather than invest in it.
The above is complex, but, the reality is that the actual SS fund ISN'T directly being raided for anything. Rather, the normal U.S. budget process has become addicted to the easy credit that the SS fund has provided.
As a side note, the time period where the SS annual expenditures outweighs annual revenue is coming soon - likely sometime around 2023. However, the actual Fund itself still has significant savings at that point, and it will take about another 15 years before the fund is actually "broke" (i.e. has redeemed all the U.S. bonds it has, and still expenditures outweigh revenue).
Many parents ask whether their children are able to work at a part time job if the child is receiving SSDI benefits based on the parent's disability.
To answer this question, it is important to first provide the framework about how a child first qualifies for dependent SSDI benefits.
First, a child does not have to be disabled to receive these benefits. Only the parent must be disabled and also entitled to receive SSA benefits. The child must be under 18 or can be 19 and receive benefits if still enrolled in high school. The child can be biological, adopted or a stepchild.
A child's SSDI benefit is based on the parent's lifetime earnings history. A child can receive up to half of the parent's monthly benefit. There is a family maximum though, for cases where multiple dependents are receiving benefit based on one disabled parent. For example, if you have three biological children and two stepchildren, and they are all dependent on the disabled parent, SSA uses a formula to determine maximum family benefit (MFB). Many factors go into the calculation, but in general, the parent's benefit amount is never reduced. Benefits that each of the children are receiving will be reduced proportionately if they exceed the MFA.
The child must also be financially dependent on the disabled parent. But what does that mean? Basically, a child can work but must not earn a substantial amount of money. The SSA defines "substantial" as earning more than $1,130 per month, so as long as the child's earnings fall under that amount, he or she can have a job. Child ownership of stocks or property may be considered as income by the SSA, so it is best to make a list of all child earnings.
In some cases, a child can be eligible for benefits from their grandparents. The SSA also has survivor benefits for children in cases where a parent has died, but did work long enough to pay SSA taxes. Survivor benefits can pay up to 75 percent of the parent's monthly benefit.
For children of very low income parents, the SSA has a different program they may qualify for. It's called Supplemental Security Income (SSI), and is designed to help low income, elderly and disabled people. SSI is a basic needs program providing money for food, clothing and shelter. Get more information on Social Security Disability benefits @ linerlegal.com/social-security-disability or you can download free SSD ebook and case review.
Over 4 million American children receive SSDI benefits totaling $2.6 billion annually. The goal of this program is to provide money to the families to help the children graduate from high school. Stabilizing the family income during those years helps tremendously in achieving that goal.
Can you switch from regular social security to disability?
this is in terms here social security IS disability it's called "social security disability income" or short "S.S.D.I." the only other one is really S.S.I. which is "supplemental security income" now just saying "I get social security" is disability , as in no longer able to work...generally speaking due to age or disability all the same fund that you paid into while working..S.S.I you can also apply for and sometimes get along with other S.S.A. (social security administration) monies
What was the social security income cap in 2008?
If income is earned in the year of full retirement age, the 2008 income threshold is $36,120. If income is earned prior to the year of full retirement age, the 2008 income threshold is $13,560. After those thresholds are reached, social security benefits are reduced.
The excess earnings reduction is $1 of Social Security benefits for every $2 of earnings over the lower threshold for people who are not yet in the year they reach full retirement age. In the year a person reaches full retirement age, the excess earnings reduction is $1 of Social Security benefits for every $3 of earnings over the higher threshold. During the month of reaching full retirement age and thereafter, beneficiaries can earn an unlimited amount without a reduction in their Social Security benefits.
Do you pay taxes if you receive a 1099 while on social security?
Many independent contractors (those who receive a 1099 tax form) do not make FICA contributions. Unfortunately, if you don't pay into the Social Security trust fund, you may not be eligible to collect benefits from it later.
